Open Payments, a Stockholm and Vasteras, Sweden-based fintech company providing an Open Banking platform, raised EUR 3M in Growth funding.
Industrifonden led the round, with participation from Sony Financial Ventures – Global Brain’s venture capital fund, as well as existing investors.
The company intends to use the funds to increase its European business reach, and product development efforts.
Founded in 2017 and led by CEO Louise Brandt, Open Payments is a provider of an Open Banking platform with focus on business to business (b2b) transactions. It enables online banking functionality to be shifted from the online bank to the customers’ business systems and interfaces, so that the end user e.g. can approve and make secure, direct payments without having to login to their online bank. The platform connects to commercial banks (via API technology) to enable services such as payments, account reconciliation and cash management for embedding directly in client applications like ERP systems, payment providers and fintechs.
Open Payments platform is developed based on the European directive PSD2.
Open Payments CEO and founder Louise Brandt has a background from Swedish fintech Zettle by Paypal (formerly iZettle), where she held several senior positions.
FinSMEs
29/03/2023